Nifty likely to open gap down; may retest 10,700 levels

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 48 points or 0.45 percent. Nifty futures were trading around 10,724- level on the Singaporean Exchange.

The Nifty50 is likely to see a gap down opening on Friday weighed down by muted trend seen in other Asian markets. The Nifty50 closed 83 points lower at 10,768 levels.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 48 points or 0.45 percent. Nifty futures were trading around 10,724- level on the Singaporean Exchange.

The S&P and Nasdaq fell on Thursday as the technology sector snapped a rally while investors turned to safer bets as they kept an eye on global trade tensions and waited for US and European central bank meetings, said a Reuters report.

Asian stocks drifted lower early on Friday, with major markets in the region recording slight declines after the mixed close on Wall Street, it added.